A new bout of mind-boggling economic illiteracy from Alexandria Ocasio-Cortez
Oil prices went into negative territory yesterday, meaning there was more oil sloshing around on the market than buyers, and for the first time producers were literally offering to pay people to take it way. The prices actually went negative.
That's an indicator of a crashed economy.
And a dinner triangle for morons. Who should show up but Boston University economics major, professional socialist, and Milton Keynes fan, Rep. Alexandria Ocasio-Cortez.
She tweeted this:
She deleted it, but here it is. pic.twitter.com/smePUtFFrK— Chuck Ross (@ChuckRossDC) April 20, 2020
Hear that? She celebrated.
Then when someone alerted her that the cheer was ill-advised, given all the oil workers who were losing their jobs, she got rid of the tweet, but in the way of a stubborn banjo-kid-level ignoramus, stood her ground. According to Fox News:
After deleting her post, Ocasio-Cortez tried again, writing: "This snapshot is being acknowledged as a turning point in the climate movement. Fossil fuels are in long-term structural decline. This along w/ low interest rates means it‘s the right time to create millions of jobs transitioning to renewable and clean energy. A key opportunity."
Throughout the day, Ocasio-Cortez has also reposted various messages essentially saying the oil crash presents an opportunity for environmentalists.
Her simpleton logic was that with the oil industry crashing, a new green energy industry would rise as a result.
It's ridiculous. The green energy industry, such as it is, came about because of high oil prices. High oil prices meant buyers were looking for alternatives, and if oil prices were going to be high, then it might not make that much difference price-wise if one got one's energy from wind power or ethanol or solar power or manure fires, or whatever it takes to call an energy source 'green.' Ocasio-Cortez, of course, has big plans to end all fossil fuel use in the country and convert it all to the pipe dream of green energy.
She reads the crash of the oil industry as the wake up call to go green.
In emitting her gaseous cheers, she demonstrated with perfect pitch that she doesn't understand the simplest laws of supply and demand.
Oil prices are crashing because people aren't buying.
And if cheap oil can't be so much as given away by sellers because of the lack of buyers, why would anyone want to buy more expensive green energy instead? The oil industry is literally paying people to take their oil away and nobody's doing it because the economy is dead. And here she thinks economically battered people somehow have lots of money to pay for green energy, which even if they did, would choose overpriced, under-performing green energy instead getting oil for free? The idiocy of this creature boggles the mind.
What's especially stupid here in this brain-of-a-seven-year old cheering is that big league socialists, the ones with real power, have always grasped the importance of high oil prices. Hugo Chavez, the late socialist dictator of Venezuela, and a clown who didn't know a whole lot about economics either, understood that little detail. Less than 20 years earlier, he vowed to drive oil prices up to $200 a barrel and leave America prostrate by cutting off our access to oil as a means to "defeat" us. Instead of watching America grovel, he ended up with an own-goal, triggering the great fracking boom that effectively ended his capacity to use oil as a weapon. All petrotyrants went downhill after fracking transformed America into the world's largest oil producer as well as a net exporter of energy. Vladimir Putin loves high oil prices and bankrolls greenie groups in Europe to encourage a stranglehold on fossil fuel production in the name of going green. Other socialist tinpot dictators in Africa and elsewhere also thrive on high oil prices. Not a one of them wants these prices to go down, because they recognize that high oil prices keep them in power.
But then we have Ocasio-Cortez, babe in the woods, imagining that in this hellish oil price situation, a green paradise beckons.
And speaking of power, oil also keeps the lights on in Ocasio-Cortez's New York City, too, as Fox News noted:
Added Rep. Jodey Arrington, R-Texas: "I don’t 'love to see' oil & gas workers & their rural communities suffering as a result of this devastating price collapse, @AOC. Places like West Texas & hard-working men & women in the oil patch power the bright lights of NYC... including the hospitals!"
It just doesn't get stupider than this. Ocasio-Cortez has revealed a lot about her economic illiteracy with this ignorant tweet. It's time for Boston University to be investigated for issuing diplomas to fools this ignorant. Nobody should pay attention to another thing this blithering idiot says.
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